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NBC
Nov 12, 2012 12:30am PST
valley. what does a second term for president obama mean to the economy? i will talk to two former top presidential advisers and sea if they think we can avoid the fiscal cliff. how to stay safe and find the right sectors in the mark and jamie dienl of jpmorgan chase. regulation, policy and too big to fail. the "wall street journal report" begins right now. >> here's a look at what is making news as we head to a new week on wall street. if if toward thought they would get a bounce after the election, they thought wrong. president obama's second term victory was greeted with stocks worst day of the year. the dow fell 300 points on wednesday and triple-digits on thursday and and the markets were mixed on friday. bond rating agency moody's reiterated the possibility of a downgrade if america goes over the fiscal cliff but said it would wa wait after budget negotiations. a downgrade will make it more expensive for the united states to borrow money. >>> superstorm sandy would provide an economic boost to the auto industry. 250,000 new and used cars may have been ruined by sandy. a loss that
NBC
Nov 11, 2012 3:30pm PST
administration. >> reporter: experts warn of serious damage to the economy if the standoff drags on. >> if three or four weeks from now they're making no progress at all, you're going to see the anxiety and the nervousness growing both in the markets and in corporate boardrooms. it's going to be a rough two months for the u.s. economy. >> reporter: and lester, as the clock ticks with the two sides still at odds, they'll try to take the first steps towards common ground on friday here at the white house when the president hosts the entire congressional leadership. >> mick viqueira, thank you. >>> tomorrow marks two weeks since sandy roared ashore here in the northeast, wiping out homes, leaving families with nowhere to go as they try to even think about how to pick up the pieces. a housing crisis that has the feds scrambling to help them. nbc's michelle frandsen is in staten island with more on that. good evening. >> reporter: good evening. this distribution center is the hub for this darkened neighborhood on staten island where people can come and get a hot meal and also much needed supplies. to
NBC
Nov 9, 2012 4:00am PST
is the wrong prescription given where our economy is. >> is it on the table to talk about -- >> i made clear yesterday that raising tax rates is unacceptable. and, frankly, it couldn't even pass the house. >> at issue here, a perfect economic storm that could have serious consequences. nbc's andrea mitchell breaks it down for you. >> reporter: the campaign was tough. victory is sweet. now comes the hard part. >> on january 21st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. >> reporter: so what exactly is the fiscal cliff? it's a nightmare combination of tax hikes and spending cuts that congress and the president agreed to to force themselves into a compromise, but so far they haven't agreed on anything. so barring a last-minute fix at the stroke of midnight on new year's eve the bush tax cuts expire, the alternative minimum tax kicks in, more than half of all married couples with two children would owe and additional $4,000 in taxes a year. for those with three or more children that jumps to $4700. on top of that, the 2011 temporary payroll tax c
NBC
Nov 11, 2012 8:00am PST
on the economy. but in fact, that's the part of the bargain that you have to do. and we're at historic lows on revenues. so i've always agreed to it. i voted for the simpson-bowles, i've been part of the gang of six, gang of eight. i agree that we have to go there, but how we go there is very important in terms of the incentives for capital investment in this country. and we have do it in a way that does not diminish that. >> let me turn quickly to lessons from this election and where things go beyond this negotiation over fiscal matters. senator schumer, immigration. are we going to get comprehensive immigration reform? it sounds like, if you listen to the house speaker, they've had a chang of heart, they want a comprehensive plan. is there news to be made on this? >> yeah, i think so. senator graham and i have talked, and we have resuming the talks that were broken off two years ago. we had put together a comprehensive, detailed blueprint on immigration reform. it had the real potential for bipartisan support based on the theory that most americans are for legal immigration but very much
NBC
Nov 14, 2012 11:00am PST
class and improving our economy. you know, i've got a lot of good relationships with folks both in the house and senate. i have a lot of relationships on both sides of the aisle. it hasn't always manifested itself in the kind of agreements that i'd like to see between democrats and republicans. and so i think all of us have responsibilities to see if there are things we can improve on. and i don't exempt myself from needing to do some self-reflection and see if i can improve our working relationship. there are probably going to be, still, some very sharp differences, and as i said during the campaign, there will be times where there are fights. i think those are fights that need to be had. but what i think the american people don't want to see is a focus on the next election instead of a focus on them. and i don't have another election. and michelle and i were talking last night about, you know, what an incredible honor and privilege it is to be put in this position. and there are people all across this country, millions of folks, who worked so hard to help us get elected but th
NBC
Nov 7, 2012 5:00pm PST
of billions of dollars worth of cuts. and two, a tax increase. many analysts say this could plunge our economy back into a recession and lead to a sell-off in the stock market because of investors losing confidence in our government's ability to balance the budget. now the worry on this has already started, adding to the fiscal cliff concerns. europe's economy is struggling again. and here at home, apple continues to tumble. all of this leading to a 300-point drop in the dow, and a 2.5% fall on the nasdaq. cupertino-based apple down more than $22. it is now trading at a five-month low. if there is a silver lining to any of today's numbers, it's that the price of oil continues to fall. it's now at its lowest level since the summer because as the european economy suffers, the expectation is that less oil will be used there. we'll see if that comes back to affect our gas prices across the pond in the weeks to come. janelle? >> that would be welcome relief at the pump. thank you so much, scott. >>> it was one of the ugliest local battles in recent history. the seat for one san jose city council di
NBC
Nov 12, 2012 4:00am PST
that japan's economy saw its first retraction renewed fierce that the economy may be headed for reception. >>> good news for greece, a 2013 austerity budget was approved. >>> elsewhere, apple and taiwanese smart phone maker htc settled a patent bat wl a ten-year licensing agreement. meanwhile it looks like ticketmaster is about to see a major threat to the share of the market thanks to a partnership between stubhub, paypal and aeg. >>> believe it or not, thanksgiving is less than two weeks away. so how much does it cost to host the big day? a new survey finds it will run you about $246 this year. but it looks like more people may skip seconds to get a head start on black friday shopping. toys "r" us is the latest store to announce it will open at 8:00 p.m. on thanksgiving day along with walmart and sears. >>> coming up, a massive explosion roxanne indianapolis neighborhood, plea deal time for congressman jesse jackson junior, plus your nfl highlights. those are straight ahead. you're watching "early today." >>> other stories making news "early today" in america now. we begin with what cou
NBC
Nov 15, 2012 4:00am PST
a slowing economy and demand for change. >>> next to colorado, where a hearing today for james holmes, the man accused of killing 12 people and wounding dozens more in a movie theater, has been delayed because he was hospitalized. holmes reportedly ran into a jail cell wall and jumped off his bed, but there are no details about his condition. >>> well, fiscal cliff fears hit wall street wednesday. but today, bad news could come from overseas. the 17 countries that make up the eurozone are back in recession after its economy contracted for a second straight quarter. the wider eu, however, avoided the same fate, thanks mostly to last summer's olympics boost. >>> back on the street yesterday, selling picked up during president obama's media briefing about those upcoming tax cut negotiations. and today, we'll see the impact the fed has. chief ben bernanke speaks this afternoon. >>> before the bell this morning, walmart reported earnings that beat the street's estimates. retail sales dropped in october after three months of gains. >>> later today, bp is expected to announce it will pay the
NBC
Nov 7, 2012 5:30pm PST
. and with the economy still limping back to health, the stakes could not be higher. president obama, a winner this afternoon, heading back to washington where voters decided he should stay for four more years. at his campaign headquarters in chicago this afternoon, mr. obama thanked staff and supporters. this, after a night of emotional celebration in his hometown of chicago, 20,000 turned out, shedding tears and sharing hugs. >> a long campaign is now over. and whether i earned your vote or not, i have listened to you. i have learned from you. and you have made me a better president. michelle, i have never loved you more. >> reporter: mixed with a little bit of humor aimed at his daughters. >> i am so proud of you guys, but i will say for now, one dog is enough. >> reporter: the president held almost 2,000 campaign events, logging miles on air force one, the candidates spending the most money in history. it is a victory at times seeming impossible, given the anemic economy, and sharply divided electorate. >> this disruptive debate here on capitol hill. >> reporter: mr. obama seemed to recogn
NBC
Nov 8, 2012 5:30pm PST
of large spending cuts and tax increases. >> reporter: the economy could go off that cliff. so what exactly is the fiscal cliff? it is a nightmare combination of tax hikes and spending cuts that congress and the president agreed to. to force themselves into a compromise. but so far, they have not agreed on anything. so barring a last-minute fix at the stroke of midnight on new year's eve, the bush tax cuts expire. the alternative minimum tax kicks in. more than half of all married couples with two children would owe an additional $4,000 in taxes per year, for those with three children or more, that jumps to $4700. on top of that, the payroll tax cut would expire. so add on a 2% tax increase for most workers, with automatic spending cuts in a thousand government programs, including defense, medicare, extended unemployment benefits. everything but veteran's benefits and social security, and federal pensions congress says that action would act as a break on the economy, throwing it back into recession and could cause a market crash. >> people watching very closely is can the administration act
NBC
Nov 9, 2012 4:30am PST
for the wealthy won't hurt economic growth but does warrant if america goes over the fiscal cliff the economy will return to a recession and unemployment will go over 9%. president obama is scheduled to make his first public comments since his re-election at 1:00 p.m. eastern today from the white house regarding the economy and also the deficit. >>> the stock futures are trending lower this morning after the major u.s. averages slumped for a second straight day. the dow, s&p 500 and nasdaq closed at three-month lows. the asian markets fell overnight. european markets heading into negative territory as well. yesterday the dow fell 121 points to close at 12,811. the nasdaq falling 41 to 2895. jon, back over to you. >> all right, thank you very much for the update. we'll check back with you a little later on. >>> we've been talking about how cold it is already. you can see it out there. we want to check the current temperatures right now with christina. >> good morning to you. we've got a good-looking day shaping up. it is going to be cold out there. we need the rain. as you know, we've had a ve
NBC
Nov 9, 2012 6:00pm PST
to the economy. back in a moment. >>> a private school was closed following an overnight fire. saint thomas moore school on south white road. investigators say the flames broke out in an office at the school. the water from the sprinkler system poured on to the gym floor. administrators hope the floor doesn't need to be replaced. the cause of the fire is not yet known. the school plans to resume classes monday for more than 200 students. >> families who need this holiday season will have a chance to soon up for help from the local community center. hundred of people camped out overnight at sacred heart community services san jose to register for holiday food distribution program. the program expect to provide food box for thousand of families for thanksgiving and for krchris mast too. >> we are going to be preparing the food boxes next weekend. hope to have all the food in by friday the right now we have four turkeys in the freezer. so, you do the math on that one. >> another registration will take place on friday. >>> how did we all survive? twitter went down today. for a short period. san franc
NBC
Nov 9, 2012 6:00am PST
agree the fiscal cliff will throw the u.s. economy into recession. really the fiscal cliff is a great metaphor. we really should be calling it a planned recession. we have live pictures this morning as you saw of wall street. the markets did close lower again thursday. they're headed for another decline today. part of that is the disappointing results we saw from j.c. penney and mcdonald's, but a lot is fear of the cliff. this is a worldwide problem. we look at the markets in hong kong, the united states is the world's largest economy. you think greece causes us problems? imagine what kind of problems we could cause greece if we went into recession. so can washington solve this in time? let's bring in tracie potts live on capitol hill. president obama is speaking out about this issue for the first time since his re-election. is there the incentive there for cooperation? >> reporter: well, they have got the incentive because people are just fed up with the gridlock in washington and now that we're past the election, we hear that the president today is going to say you've got to get tho
NBC
Nov 12, 2012 12:00am PST
is holding firm against one of the president's main campaign pledges. >> everyone wants to get our economy moving again, everyone wants to get more americans back to work again. raising tax rates will slow down our ability to create the jobs that everyone says they want. chris: in your book, the price of politics, a heck of a book. you talk about how debt negotiations fell apart the last time, we tried it in the summer of 2011. will the speaker, we just saw, have the strength to lead his party even if he has to fight for the tea party? >> their camouflage is tax reform and they're going to do that over time. so the rates could come down. the really interesting thing is when you examine the detail of this, last year they were close. they actually could have worked out some agreement and it blew up because of the president asking for more revenue and that was the limit for them. i think it is a moment of necessity to a certain extent. they can't avoid this now. chris: reporting challenge. does the president have confidence or belief that the other side, that would be mitch mcconnell, the sen
NBC
Nov 14, 2012 7:00am PST
's gonna care about. i know the economy is tough and i know that the retailers need the sales and all of that but when we lose perspective about what really matters in this world, we have lost everything, i think. >> so let's shop on friday. >> i think so. >> i think you're right. i think so, too. >> unless you don't have a family to celebrate with. but people -- i don't know, are these stores going to pay employees more to work on a holiday? >> i don't know if that is the case. >> a lot of people are out of work, you need the job. it is unfortunate. i really do. >> we are going to talk about a wednesday -- is it wednesday? it is wednesday. >> winesday wednesday. >> talk about a trend. >> this has been around forever though. >> this is a trend and it is peanut birth and pickles. it is national pickle day, in case you didn't know. according to the "new york times," a old favorite it has emerged again. i guess it is the tartness and the tanginess of the pickle coupled with the peanut. >> any given morning, you and i can be found with our peanut butter. every morning we have that guy, th
NBC
Nov 9, 2012 5:30pm PST
are triggered. they estimate that would cause the economy to take a significant hit, raising unemployment to 9.1% by the end of next year. but the real political sticking point is taxes. the president called on congress to make tax cuts for people making less than $200,000, and making less than $250,000, and drew a line in the sand. >> i refuse to accept any approach that is not balanced. and on tuesday night, we found out the majority of americans agree with my approach. >> reporter: the president was referring to the tuesday exit poll which indicated nearly 60% of voters would support higher taxes on the wealthy.çó and while john boehner hinted at some taxes going up, he also listed some conditions. >> and it is not like there is money in social security or medicare. this has to be dealt with, so everything, everything on the revenue side and on the spending side has to be looked at. >> reporter: now brian, the white house says that social security shouldn't be a part of these negotiations. but i can tell you, republicans won't participate if social security is not. >> all right, chuck tod
NBC
Nov 9, 2012 7:00am PST
the white house this afternoon about the economy and what it will take to stave off the fiscal cliff. we'll have a live report from the white house straight ahead. >> also new, a tough reprimand for member of that highly respected seal team 6. did they reveal classified information to the makers of a video game. we'll have more an that. >> and then a real drama for one of the young stars of "modern family." ariel winter removed from her home. there are some new details in the case this morning and her mother has released a statement to nbc news. we'll talk about that. >> plus, first let's get to the top stories of the morning. natalie plo ra less is at the news desk. good morning. >> good morning everyone. it is back to work for president obama today as he addresses congress about the fiscal cliff, tax increases and automatic spending cuts slated to slam the economy back into a possible recession in january if the house and senate don't intervene. partisan politics have gotten in the way on the issue as republicans refuse to hike tax rates on wealthy americans. the president is expected
NBC
Nov 11, 2012 6:00am PST
to send the economy back into a nose dive. what's your sense in washington? are both sides -- do both sides still have an appetite to play brinksmanship or is there a real desire to get this done? >> as i talk to people on capitol hill, lester, and in the administration, there is still wariness on both sides. one for the other. but there is a different attitude. they both see some room for breakthrough here. i think both sides recognize that the public has spoken lo loudly about the importance of compromise. but the public has also reaffirmed the status quo in washington. so the president is in a position, and you heard him at the end of the week insisting that tax rates for wealthy americans are going too much to go up. or taxes, more generally. so i think that's where he feels the mandate of a second term and he's going to drive a hard bar fwan. but i think he's going to try to work in a way to make it very difficult for republicans to say no to a new approach, again, undering people want something to get done on this on deficit reduction and then move on to some other issues. >> gi
NBC
Nov 14, 2012 6:00am PST
for a compromise. what republicans said is -- let's make the economy bigger and grow economy so people are making more money. we naturally get more taxes. in other words, taxing a bigger salary as opposed to raising the tax rate. either way you end up paying more taxes and more money in one scenario. hope or compromise because the spirit of compromise seems to be here. in terms of where they are, you neither have -- seems to have really buzzed a lot from their initial positions here. we are dealing with a deadline. >> this is very interesting. one last thing. as all happening as we are expecting the announcement, house minority leader from nancy pelosi, of course, bay area's pelosi. is she expected to step down as minority leader? >> reporter: she could. we are going to get that announcement shortly. keep in mind that this is the second election where they have failed to have a democratic majority in the house. she has been the minority leader now through two elections and certainly possible that she may not -- republican leadership that we don't expect to change over much at all. she may hand th
NBC
Nov 8, 2012 7:00am PST
. these two things will coincide, and that is the fiscal cliff to basically possibly push the u.s. economy into recession unless congress does something about it. >> is wall street basically registering its doubt and skepticism that either party can come together and resolve this? >> that's right. i think we will see compromise. already you've seen the president reach out to the other side. john boehner making comments that they also want to work together. but, again, this is the choice that we have been talking about over the last several months. spending cuts, tax increases. >> we should mention that we're also more renewed fears in europe, the greek debt crisis rearing its ugly head. >> absolutely. it's clear that greece cannot pay its bills. now we're thinking, okay, this is another pressure for the u.s. economy. so we're all waiting on some kind of compromise out of washington as well as some stability in europe. but for sure, we'll probably see some volatility going forward. doesn't really mean much, though, long-term. >> i was going to say, let's get some perspective. there was a hu
NBC
Nov 9, 2012 5:00am PST
child there. these are families that are still struggling in a difficult economy. you think things are getting better, but as we see, it really is -- it's not getting all the families. in fact we expect to see just really the same record numbers this year as we saw last year signing up for our holiday programs. so 4,000 families we'll be feeding for thanksgiving this year. >> reporter: and before we go, i mean i know a lot of people may see this, some may need help themselves. how can people help? >> a great example, if you have a family, get your kids, go out shopping, pick up some extra cans, pick up an extra turkey, while you do that, talk to your kids about how important their education is and then talk about some of the folks for whom they're really struggling right now, what happens if you don't have enough money. take your kids through that process, buy some extra and then bring it down here to sacred heart. we're at 1381 south 1st street in san jose. pull on up and donate it by next friday so that the following monday we're ready to feed all these families. >> reporter: tha
NBC
Nov 15, 2012 12:35am PST
and a hybrid that doubles the fuel economy of the average vehicle. it's an entirely new idea of what a car can be. you gonna just eat all that cereal? cmon,hurry up. eat y'all food so you can go to school. let me have some. that's good. bronie,what you doing over there? nothing. let me get that. (laughter) buy any samsung galaxy handset get up to $100 off a second samsung galaxy device. offer exclusively at at&t. liq... double impact?! ... ... sfx: doorbell i'm here to snake the drain. i'm here to flush the pipe. vo: liquid plumr double impact has twice the drain clearing power with a plumber's snake to grab deep clogs and a powerful gel to finish off the rest, baby. liquid plumr double impact. the tension between them reached a breaking point, literally. so they divided the production between two separate factories. each factory took a vastly different approach. left twix flowed caramel on cookie, while right twix cascaded caramel on cookie. left twix bathed in chocolate, while right twix cloaked in chocolate. both bars as different as the vastly distinct men who invented them. to this day, s
NBC
Nov 8, 2012 12:35am PST
boost engine and a hybrid that doubles the fuel economy of the average vehicle. it's an entirely new idea of what a car can be ♪ [ cheers and applause ] >> jimmy: you know our first guest from her memorable performances in the movies like "the runaways" and "snow white and the huntsman." starting next friday, november 16th you can see her alongside robert pattinson and taylor lautner in the twilight saga, "breaking dawn part ii." please welcome back to our show kristen stewart! [ cheers and applause ] ♪ [ cheers ] >> jimmy: they love you, we love you. nice to see you. >> same here. >> jimmy: nice to see you again. you look gorgeous as always. >> so do you. >> jimmy: thank you so much, i had some work done. [ light laughter ] congrat -- look at these, you're everywhere. i mean, it's all over the news. it's just awesome. giant fold-out posters in here, you guys. [ light laughter ] >> i know. >> jimmy: i hang it in my bedroom. yeah. [ laughter ] you're all over the place promoting this movie. it's gonna be the biggest movie in the history of the world. did you make -- did you get a chanc
NBC
Nov 11, 2012 9:00am PST
movies and its economy in the years to come. >> jeff katzenberg, i heard him say that there's something like 130,000 different frames in an animated movie. can you give us an idea of sort of the scale that we're talking here with this process? >> so you can start from the outside, as you say. there's 130,000 frames in a typical animated movie. each one of which has to be manufactured. each one of those frames probably has in the reach of 100,000 individual assets. so a typical movie involves half a billion files and 250 billion individual pixels. so that's the scale of the finished product. if you think about that product going through its hundreds and hundreds of iterations, each frame, each shot, each performance, at different stages of the production that's why we it -- it takes 60, 70 million render hours to produce a movie over its lifetime. >> now, dreamworks animation was spun out of the dreamworks live action operation, the steven spielberg and jeff katzenberg operation. hasn't live animation drown more closely together? where's the line between the two? >> that's right. >> trem
NBC
Nov 13, 2012 5:00pm PST
it means for the state's environment and for the state's economy. we'll have those stories, and a first of its kind gas station opening up in the bay area when we see you at six. >> see you then. "nightly news" is next with
NBC
Nov 15, 2012 11:00am PST
of this coming out of apple into people's pockets this morning. now, $2.5 billion into the economy is a tremendous amount of money. but really jon and marla, a fraction of what apple has stuff into the mattresses. it's in the hundreds of billions of dollar that is they have cash on hand. >> you need a big mattress to put all that in. thank you very much. >>> is it raining yet. let's get a look at the forecast. >> ceiling leaking in here. >> we'll get that fixed during the commercial break, jon. good morning to you. taking a live look at san jose. you can see the clouds. it feels like it's going to rain out there. but we'll have to hold off until later off this evening. showers creeping up into the south bay at about 5:00 p.m. but not before we hit the 70s in some cities. 67 here in san jose. san francisco, 66 degrees. we're not going to be this warm for a while. so enjoy it while it lasts. first storm comes up from the south, packing a lot of moisture. we're expecting the bulk of the moisture to come through over the course of tomorrow morning. another wave of heavy moisture tomorr
NBC
Nov 9, 2012 11:00am PST
economy is slow to reach people here. >> it's real. this doesn't look like it's going away any time soon because according to the government numbers, census numbers, the recession ended about two or three years ago and that's not what you're seeing here today. >> families can register for that program until 6:00 tonight. the second registration will be held next friday. you can find more information on their website, www.sacredlartscs.org. >>> happening right now, it will be a shopper's dream and simultaneously a commuter's nightmare, at least for a little while. we're talking about the 880/2 interchange. very notorious area. kristie smith is near that interchange in san jose where a ground breaking project is getting started today. kristie, good morning. >> good morning you to, jon. for drivers in the south bay, this is the best news they've heard in a long time starting with sweeping changes there right off of stevens creek, the mess where 280 meets 880. it's about to get a major makeover that will signal the end of some backups in areas where you have to slam on the breaks to make it.
NBC
Nov 10, 2012 5:00am PST
decision making process, those loopholes are closed. so it's a pro-growth way. growth for the economy, it's a way of generating economic growth but at the same time generating those revenues from wealthy americans. by the way, i don't think the issue is about revenue. i think speaker boehner laid out $800 billion in revenues the last time that they met. the real issue here, in my opinion, and i meet republicans and democrats all the time, is how deeply we're going to deal with the issue of entitlements and especially the medicare program. to me, that's the key to these decisions, and discussions, and that is will the president be willing to really fundamentally change the medicare program so that it's solvent for the future. i believe if he's willing to do that, i think you're going to see a compromise here. and i think you're going to see something very -- >> on the part of democrats to touch those. i want to talk briefly about this notion of a two-step measure that speaker boehner supports a stopgap that would buy a little time until january and then pick up the harder business down the
NBC
Nov 14, 2012 6:00pm PST
the deficit was 25 billion. why the turnaround? improving state economy and prior budget cuts and passage of prop 30. unfortunately home burglaries are on the rise across the bay area, especially on the peninsula, san mateo residents are fed up. a surge hit east of 101 with 15 different burglaries. just this week there were serve more break-ins near the south end. you see the red dots there with the homes are. san mateo police are trying to fight the spike in burglaries, they might follow the leads of others. >> reporter: good evening, raj, they saturated both of those areas as an immediate response. we checked in with other cities that experienced similar spikes and found one success story across the bay. >> on lodia avenue where neighbors know each other by name, the rash of burglaries up to 15 in november rattled nerves, especially for the woman sandwiched between two target houses. her own home was hit before. >> a year and a half ago, it's all wound up again. it's hard. are they coming back? >> reporter: san mateo police sergeant says his officers are working hard and tracking activi
NBC
Nov 15, 2012 7:00am PST
sandy after taking a strong stance on the looming fiscal cliff telling lawmakers that the economy cannot afford a tax increase on all americans. republican leaders say raising income tax rates on wealthier americans could hurt job creation. >>> after a rough closing on wednesday over those fiscal cliff fears, wall street is once again on edge this morning as new figures show the 17-nation euro zone has officially fallen back into a recession. and workers protest there are sweeping across the continent. kayla tausche is at the new york stock exchange with more. kayla, good morning. >> good morning, natalie. the congressional budget office has warned that failing to fix the $600 billion in tax and spending cuts would drive the u.s. into recession, which has been relatively strong compared to europe with rising unemployment and unrest, as well as china where big questions loom over the direction of the world's second largest economy under new leadership. president obama yesterday called for tax cuts to the middle class immediately. that followed business leaders and a big meeting there, one
NBC
Nov 7, 2012 6:00pm PST
there trying to get a job, so this is going to be wonderful for the economy and for the town of livermore, absolutely. >> reporter: paragon outlet says this is the first outlet center to open in the states since 2001 and it's expected to generate $2 million a year for livermore. >> we just feel we're part of the whole livermore experience. you come out here to do a wonderful wine tasting, to have a lunch at a vineyard, to shop now, something that you didn't have quite as accessible before we came. i think it really just helps to establish livermore as a wonderful place to spend the day, the weekend, a vacation. >> reporter: the official grand opening is tomorrow at 10:00 a.m. today the major flagship stores including bloomingdales and other stores opened early. but some say the line could be as long as two hours. >> okay, true confessions. i was already there today. i went to the last call neiman marcus, but i had to leave because it was too full. >> you had to come here to work? >> i had to come to work. so i'll have to go back tomorrow. >> that guy had five bags coming out of there. >>
NBC
Nov 8, 2012 6:00pm PST
to vice president ping while the world's second largest economy continues to grow, president hu warned public anger over corruption is also growing and called on his 2,200 party members to be ethical. china as you may know has seen many more dissidents in recent years. >>> thank you. his itinerary is making history. president obama will become the first u.s. president to visit myanmar and cambodia. the trip marks a drama turn-around in the country's relations with america after decades of violent military rule. but exiled activists and human rights groups are likely to criticize the president's planned visit. in cambodia, he will attend the east asia summit. ? . the president is facing economic uncertainty and certainly will the rest of the year. today that translated again into another down day for your money. company that are both losing and making money. >> another rough day on wall street. we'll start with losses and they're piling up for apple. the cupertino company saw its price fall another $22. 22% below the high setback in september. adding insult to the situation, a research
NBC
Nov 13, 2012 6:00pm PST
in the bank that will protect it in case our economy goes south. jessica. >> okay, thank you, scott. >>> as congress returned to work today in washington, some democrats were pushing an unorthodox idea for coping with that so-called fiscal cliff. they're proposing letting the steep tax hikes and spending cuts take effect in the new year, which would force republicans to bargain. the white house says it wants a deal without going over the fiscal cliff. lawmakers have about seven weeks to reach a budget deal that will avoid that scenario. some fear the economic uncertainty could ignite turmoil in the financial markets or cause businesses to delay hiring and spend less. all this week the president is meeting with lawmakers and leaders in labor and business getting their input on the situation. >>> it seems to be changing by the hour. another twist in this widening scandal. two women and now two generals are under investigation in the david petraeus saga. janelle wang breaks down this complicated case in our world tonight. >> reporter: raj, the florida socialite at the center of the sca
NBC
Nov 14, 2012 5:00am PST
'm here, too. tough economy and the holidays are coming up. >> well said we have a really good looking day shaping up. if you wanted to cut on -- maybe get last-minute plans, getting last-minute ingredients, yeah, for that thanksgiving feast, you may want to do it today or tomorrow. because the rain is going move in as we head through late thursday and all the way through tuesday. here is what i can tell you. probably have family and friends coming into town. rain is not going the keep you indoors all day on turkey day. you will be able to get breaks from your family if it is -- temperatures will be comfortable today and that's where we will start to clear out as we head through wednesday and thursday of next week. also, looking good for your black friday shopping a lot of people will be waiting in line in the elements and we are looking pretty good. lot of rain to get through between now and then. 56 degrees, is an plan. 41 in napa. temperatures not as frigid as they have been. it is going to be warmer today than yesterday. might break temperature records. high pressure driving the winds
NBC
Nov 15, 2012 6:00am PST
refinery. a hearing being held on gas prices and the economy later on this morning. we'll of course be there for it. >>> it is a day twihards have been waiting for. >> that's what they call those kids? >> the fifth and final film in that twilight series opening around the country late tonight. >> you know, your mood swings are giving me whiplash. >> the twihards camping out. they have been there for more than a week for the final installment of the supernatural romance series earning over $2 billion worldwide. >> that's no laughing matter. >> not at all. it goes off starting at 10:00 tonight. the teenagers in love and their vampires. >> hey, thanks for joining us this morning. have a great day. >>> good morning.
NBC
Nov 8, 2012 6:00am PST
parties would be too bitter to reach an agreement before the economy hits the cliff. there's less fear this morning thanks to speaker boehner. democrats want tax breaks for the rich to expire as a way to pay down the debt, republicans don't. they would like tax breaks to expire for everybody or nobody. but this morning boehner said he'd be ready to talk about certain loopholes which may cause the rich to pay more. >> it will be an interesting year. >> even had a purple tie on which might be a blending of the red and the blue. >> really? >> we'll take any thing. >>> 6:18 today. they call it black friday, which is supposed to be a good thing. but this year it's going to come earlier for walmart shoppers. >> they are opening its doors even before shoppers have polished off those turkey dinners. walmart also promising shoppers in line at a certain time in thanksgiving three hot meals for the holidays. holiday promotions will start at 8:00 on thursday night, that's two hours earlier than last year. it keeps creeping back. retailers have been experimenting in recent years with black friday s
NBC
Nov 8, 2012 10:00pm PST
to talk about the economy and jobs now that it is not a campaign issue it's back to being a reality. you have heard it a million times. we used to make things in america. manufacturing was the backbone of our country. and now it isn't. at least that's the rampant belief. tonight harry smith has some evidence to the contrary. >> reporter: the idea that american manufacturing is dead is a myth. or more accurately an outright falsehood. >> i think there is a team of great opportunity in manufacturing, there is a renaissance going on. >> reporter: mary is the ceo of the vermier corporation in iowa, a company that build a mind-boggling array of machinery sold in 70 countries around the globe. mining, farming, construction, landscaping. since her father put a simple hoist on a corn wagon, 70 years ago, vermeer has been trying to find a better way to do all kind of things. people travel through the country and they see old industrial plants and they think to themselves well america's industrial heyday is over. to which you would say what? >> i would say, let's look at the facts. and the facts a
NBC
Nov 9, 2012 12:35am PST
boost engines and a hybrid that doubles the fuel economy of the average vehicle. it's an entirely new idea of what a car can be. ♪ [ cheers and applause ] >> jimmy: welcome back, everybody. we're with country music superstar, carrie underwood. here's her new cd right here, "blown away." it's great to see you again. now, we've known each other for a while. a lot of people might not know this, but we were actually a singing duo in the '90s. >> that's right. we were. >> jimmy: yeah, and we were called -- we were called jim carrie. [ laughter ] it was a little confusing because people thought they were coming to see jim carrey. >> right. >> jimmy: but our music was genius. what we did, we would sing country versions of popular rap songs. we invented a new genre of music called country rap. >> or crap. [ laughter ] >> jimmy: some people abbreviated it. that's true, yeah. c'rap. [ laughter ] but i actually have some footage from one of our shows. would you believe this? >> no. >> jimmy: you got to check this out. ♪ ♪ ♪ straight outta compton a crazy mother-effer named ice cube ♪ ♪ fr
NBC
Nov 12, 2012 7:00am PST
of veterans day. meantime, our own fiscal worries remain in focus for investors and the broader economy. many business leaders urging congress to work together to resolve that fiscal cliff before it's too late. natalie? >> courtney reagan at the new york stock exchange, thank you. >>> and now for a look at what's trending today. our quick roundup of what has you talking online. judy garland's blue and white dorothy dress from "the wizard of oz" featured recently here on "today" fetched an over the rainbow bid at a hollywood memorabilia auction this weekend. it sold to an anonymous buyer for about $480,000. >>> the reported breakup of justin bieber and selena gomez dominated the internet. during an appearance on the radio show "open house party" justin was asked if he had a comment on the relationship. >> i don't know what to say. i don't know really what's really even going on in my life. so it doesn't make sense because i've not made any comment. >> and at a concert in boston, the beibs seemed to let his work do the talking with a performance of justin timberlake's anthem "cry me a river."
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